en.Wedoany.com Reported - Heliostar Metals Ltd. has recently announced new drilling results from its Ana Paula project in Guerrero State, Mexico. The drilling has revealed multiple high-grade gold intercepts, including a 69.15-meter section grading 10.09 grams per tonne (g/t) gold from a depth of 93 meters, and a 43.8-meter section grading 13.9 g/t gold from 104.55 meters (with 19.85 meters grading 22.5 g/t gold).
According to the company, the drilling program aims to upgrade inferred resources to support a feasibility study scheduled for completion in 2027. CEO Charles Funk stated: "Today's results highlight the unique nature of the high-grade zone, its ability to consistently deliver exceptionally high gold grades over broad intersection widths. We expect to upgrade these areas and incorporate them into the mine plan for the Ana Paula feasibility study in 2027." He added that commissioning production by 2028 will be a key step for Heliostar to achieve its target of producing 500,000 ounces annually by the end of the decade.
The drilling at the Ana Paula project saw 88 holes completed for a total of 31,184 meters during the 2025-2026 period, focusing on infilling inferred areas identified in the Preliminary Economic Assessment (PEA). Recent results include five holes from the high-grade zone, with holes such as AP-25-360 intersecting 69.15 meters grading 10.09 g/t gold, and AP-25-359 intersecting 43.8 meters grading 13.91 g/t gold, confirming continuity of high-grade mineralization.
Analysts view the project's prospects with optimism. Jonathan Guy, an analyst at Hannam & Partners, noted the discovery of a 101-meter section grading 5.34 g/t gold from a depth of 512.5 meters in an extension area, indicating significant depth potential. Dave Storms from Stonegate Capital Partners believes management's strategy of using cash flow from operational mines to fund high-margin growth assets will position Heliostar as a mid-tier gold producer. Both National Bank Financial and ATB Cormark have assigned Buy ratings, with price targets of C$4.50 and C$7.50, respectively.
In the gold market, gold prices retreated to approximately $4,700 per ounce after hitting an all-time high of $5,000 per ounce in early 2026, amid increased volatility. Analyst views on the gold outlook are mixed, but resource upgrades and progress on the feasibility study at the Ana Paula project remain key catalysts for the company's stock price.
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